Swiss Re is one of the world’s leading providers of reinsurance and insurance, with over 160 years of experience in helping make the world more resilient.
Are you passionate about financial analysis and eager to make a meaningful impact in a global environment? Join our Credit & Surety team, where your analytical expertise will directly influence underwriting decisions and support clients across general markets. As we continue to transform the credit insurance business through AI, data-driven insights and innovative solutions, we are looking for talented professionals to be part of this journey.
About The Role
We are looking for a high-performing Credit Risk Analyst to join the Credit Product Centre (CPC) in Madrid. This role sits at the heart of underwriting decision-making and offers a unique opportunity to work on complex credit transactions across geographies and sectors.
You will combine fundamental credit analysis with commercial insight to support underwriting decisions particularly in area of trade finance, contribute to portfolio monitoring, and drive efficiency through AI, data and technology.
Key Responsibilities
Credit Assessment & Appetite
Perform in-depth credit analysis and internal rating assessments of corporate obligors across industries and geographiesEvaluate financing structures and transaction risks, providing clear and actionable recommendations to underwritersRecommend credit limits in line with internal risk appetite, policies, and governance standardsIdentify key risk drivers, mitigants, and early warning signals
Portfolio Monitoring & Risk Management
Monitor existing exposures and assess the impact of market, sector, and company-specific developmentsIdentify deteriorating risks and recommend watchlist actions or risk mitigation strategiesContribute to portfolio-level insights, including sector trends and concentration risks
Stakeholder Collaboration
Partner closely with underwriting, risk management and actuarial teams globallyCommunicate credit views effectively to support timely and informed decision-makingBuild strong working relationships across regions and functions
Operational Excellence & Transformation
Drive efficiency in credit processes, improving turnaround times and consistency of outputsContribute to data-driven and AI-enabled transformation initiatives within Credit & SuretySupport development and enhancement of tools, methodologies, and credit frameworks
About The Team
The Credit Product Centre (CPC) is a global team supporting the Credit & Surety business across regions.



The team plays a critical role in:
Delivering high-quality credit risk assessments for underwriting decisionsDriving strategic initiatives in risk analytics and portfolio insightsEnsuring consistency, governance, and best practices across the credit processSupporting pricing, monitoring, and portfolio steering
The team operates globally with presence in multiple key locations and works closely with senior stakeholders across underwriting, risk, and functional areas.
About You
You're an analytical thinker with strong financial acumen and a passion for understanding global markets. You thrive in collaborative environments while maintaining independent judgment and can effectively communicate complex financial concepts to diverse stakeholders. Your curiosity drives you to continuously develop your skills and knowledge in this evolving field.
We Are Looking For Candidates Who Meet These Requirements
6-10 years of experience in credit analysis and credit-related workStrong academic background with a relevant business degree and/or post-graduate qualification (MBA/CFA/Chartered Accountant or similar)Strong quantitative and analytical skills with good command of English, Spanish and GermanProficient in financial spreading, financial projections, and handling credit application documentsGood knowledge of general macroeconomics, financial markets, and credit-related productsExperience handling multiple priorities and meeting deadlines in a fast-paced environmentDemonstrated ability to assign and defend independent credit opinions and risk ratingsWorking knowledge of database management tools and strong Excel skills
These Are Additional Nice To Haves
Knowledge of corporate loans, structured financing, and trade finance productsExperience assessing complex corporate groups, ownership structures, and subsidiariesKnowledge of agency rating methodologiesExperience in credit analysis of asset/fund managers, private equity/venture capital firmsPrior experience in risk analytics and quantitative credit analysisDigital transformation project experienceGood command of French
For Spain,



the base salary range for this position is between 42,000 EUR and 70,000 EUR for a full-time role.
The Specific Salary Offered Considers
the requirements, scope, complexity and responsibilities of the rolethe applicant's own profile including education/qualifications, expertise, specialization, skills and experience
In situations where you do not meet all the requirements or you significantly exceed these, the offered salary may be below or above the advertised range. In addition to your base salary, you may be eligible for additional rewards and benefits including an attractive performance-based annual bonus.
Our company has a hybrid work model where the expectation is that you will be in the office at least three days per week.
About Swiss Re Corporate Solutions
Swiss Re is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer. We anticipate and manage risks, from natural catastrophes and climate change to cybercrime.
Swiss Re Corporate Solutions is the commercial insurance arm of the Swiss Re Group. We offer innovative insurance solutions to large and midsized multinational corporations from our approximately 50 locations worldwide. We help clients mitigate their risk exposure, whilst our industry-leading claims service provides them with additional peace of mind.
Our success depends on our ability to build an inclusive culture encouraging fresh perspectives and innovative thinking. Swiss Re Corporate Solutions embraces a workplace where everyone has equal opportunities to thrive and develop professionally regardless of their age, gender, race, ethnicity, gender identity and/or expression, sexual orientation, physical or mental ability, skillset, thought or other characteristics. In our inclusive and flexible environment everyone can bring their authentic selves to work and their passion for sustainability.
If you are an experienced professional returning to the workforce after a career break, we encourage you to apply for open positions that match your skills and experience.
We may use AI-powered tools to support the review and evaluation of applications for this position. These tools provide additional insights to our recruitment teams, but all hiring decisions are carefully reviewed and made by people. To learn more about how we use AI in recruitment and how we handle your personal data, please review our Data Privacy Statement before applying.
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📌 Credit Risk Analyst (Hybrid, 80-100%) (Madrid)
🏢 Swiss Re
📍 Madrid